Provides usage-based mobile device insurance through a subscription model, offering coverage for accidents like drops, spills, and mechanical failures at a low monthly rate of $10 with a $50 deductible. The accompanying app rewards users with savings based on device usage, reducing overall repair costs and improving claim efficiency with immediate coverage and seamless device transfer.
Funding
$250K raised to dateRaised to date based on public sources. This may differ from the amount the company actually raised and is based only on what is publicly available on the internet.
Founders
Product
Problem
Mobile device users face high costs for repairing or replacing damaged smartphones, smartwatches, and tablets due to accidents like drops, spills, and mechanical failures. Traditional insurance plans often have high premiums and deductibles, making them less accessible or appealing to many users.
Solution
Warranty Life provides a subscription-based protection plan for mobile devices, covering accidental damage and mechanical failures. Users pay a low monthly fee for coverage, with a deductible applicable to claims. The company's mobile app allows users to register their devices, file claims, and access a SmartSaver program that rewards users with savings on their deductible based on device usage. This approach aims to make device protection more affordable and accessible while incentivizing responsible device handling.
Target Audience
The primary target audience includes smartphone, smartwatch, and tablet users who want affordable protection against accidental damage and mechanical failures, particularly those who are cost-conscious and interested in usage-based rewards.
Features
- Monthly subscription-based protection plans for smartphones, smartwatches, and tablets
- Coverage for accidental damage, including drops and spills, as well as mechanical failures
- Mobile app for device registration, claims filing, and account management
- SmartSaver program that rewards users with deductible savings based on device usage
- Diagnostic tests within the app to assess device health
- Choice of repair location
- Seamless device transfer to the next device via the app